Anthropic S-1 shows at least two-thirds of chip spending goes to training and researchMachine translation

Anthropic’s S-1 shows that at least two-thirds of its chip spending goes to model training, research and internal use of Claude. In the first half of 2026, the company spent $8.95 billion on compute, with $2.38 billion in costs to serve paying customers. The material also says Anthropic buys most capacity 12 to 18 months ahead, while revenue per compute dollar rose from $0.40 in Q1 2025 to $2.08 in Q2 2026.